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Jun 16, 2012
06/12
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tax reform, there are reasons to do tax reform. but one of the reasons, there is a strong focus today, in order to do entitlement reform, we will have to do reform to get it onto the table. there is a lot of reform and a lot at stake for the nation. it is probably a bigger issue for the nation than tax reform for the nation. where the reform of the tax code probably has to be part of that discussion in in order to get reform to work. at the same time we ought to be talking about the distribution about the entitlement programs. i think it would be still abridge too far, but it would be interesting to see tables that factored in both spending and the tax side. please raise your hand. and remember to state your name. especially those who know me and i know you. that is harder for you. >> i want to respond to things that bob said. i want to say that people should get bob's book. people have talked about the flat tax for a long time. those are crazy propose ales because they don't account for -- they would make the tax more aggressive.
tax reform, there are reasons to do tax reform. but one of the reasons, there is a strong focus today, in order to do entitlement reform, we will have to do reform to get it onto the table. there is a lot of reform and a lot at stake for the nation. it is probably a bigger issue for the nation than tax reform for the nation. where the reform of the tax code probably has to be part of that discussion in in order to get reform to work. at the same time we ought to be talking about the...
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Nov 2, 2017
11/17
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CSPAN3
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which is i want to cut taxes, i want to cut tax rates and i want to broaden the tax base. if i think you say that to a body of constituents, that might actually go over okay. the reason i think it will go over okay. because nobody knows what broadening the tax base is. they understand what tax cuts and lower tax rates and this other thing that doesn't really offend them. so they're still relatively excited. but i tell you, if you tell people you want to cut taxes, you want to lower tax rates and raise taxes also at the same time, that doesn't go over well at all, right? and that's the winners and losers problem that was mentioned in the introduction. and that's some of the challenges the politicians face. so cutting tax rates and also creating lots of winners is tough politics. and i think that there is plenty of evidence of that. and so, but it's not a binary choice. and we saw that play out in the budget resolution. and we've seen that play out in the sort of the core outline of the big six plan the republican leaders have introduced. they're talking about cutting taxes.
which is i want to cut taxes, i want to cut tax rates and i want to broaden the tax base. if i think you say that to a body of constituents, that might actually go over okay. the reason i think it will go over okay. because nobody knows what broadening the tax base is. they understand what tax cuts and lower tax rates and this other thing that doesn't really offend them. so they're still relatively excited. but i tell you, if you tell people you want to cut taxes, you want to lower tax rates...
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May 16, 2017
05/17
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tax. why? it's taxed over there. if you're adding tax to it, you're making that u.s. operation abroad less competitive and because operations are integrated internationally, that's the u.s. operation works closely with the foreign operation. if you make the foreign less competitive, you make the u.s. operation less competitive. that's the reason why even socialist countries in europe adopted a territorial system, all of them, because they know they need to compete on a global scale on the global scene and the only way to do that is to have a competitive tax system. so those are the three key components. there are other things that can be done in part of tax reform, dealing with the estate tax and other elements. those are all important. this core elements of tax reform, significant rate reduction, expensing, and a territorial system. and right now if you'll notice when we talk about tax reform, whether it's the blueprint or president trump's proposals, they tend to revolve around those thr
tax. why? it's taxed over there. if you're adding tax to it, you're making that u.s. operation abroad less competitive and because operations are integrated internationally, that's the u.s. operation works closely with the foreign operation. if you make the foreign less competitive, you make the u.s. operation less competitive. that's the reason why even socialist countries in europe adopted a territorial system, all of them, because they know they need to compete on a global scale on the...
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Feb 28, 2017
02/17
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CSPAN
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tax policy. polls was for an increased increase tax on imported goods and the house republicans plan for house reform. from washington journal, it is just under an hour. are joined by president of americans for tax reform. he is joined by the president of the peterson institute for discussion on a key proposal and the republican tax reform effort. it is called a border of justice. or just a border tax. start us off by giving us a basic of how a border tax works and how republican leaders see this working. a littlethink it is complicated. almost every country in the world has something called a value added tax. the way the value added tax is the only taxes you at each stage you something. it automatically does not punish exporters versus importers, it lets you use the mystic stuff. the specific proposal being put brady, houseairman speaker brian and the things we are hearing from president trump is confused. it is not the same is attacks. it is biased against imports in would be a big adjustment t
tax policy. polls was for an increased increase tax on imported goods and the house republicans plan for house reform. from washington journal, it is just under an hour. are joined by president of americans for tax reform. he is joined by the president of the peterson institute for discussion on a key proposal and the republican tax reform effort. it is called a border of justice. or just a border tax. start us off by giving us a basic of how a border tax works and how republican leaders see...
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Jun 16, 2012
06/12
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CSPAN3
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a tax increase, not a tax cut. and the greatest increase according to the distribution tables were to incomes at the top. but i would say within three months after the enactment of that statute, more liberal politicians already were screaming that the rate on wealthy people were too low, and they wanted to increase it. i think if you buy off on this myth that you'll trade tax expenditures for a lower rate, you're going to end up with no tax expenditures and a higher rate in the end. now maybe that's what people want. but i think on one side of the aisle that's not what they want, but that's what they're going to end up with, in the long run. >> you have a response? >> most of the base broadening in '86 was actually on the corporate side. and actually a lot of those changes survived. it is true that rates went up. also, right after tax reform is enacted, there was a -- i'll call it a lower capital gains tax rate, and to restore the tax investment credit, one of which eventually happened. i mean it certainly for peop
a tax increase, not a tax cut. and the greatest increase according to the distribution tables were to incomes at the top. but i would say within three months after the enactment of that statute, more liberal politicians already were screaming that the rate on wealthy people were too low, and they wanted to increase it. i think if you buy off on this myth that you'll trade tax expenditures for a lower rate, you're going to end up with no tax expenditures and a higher rate in the end. now maybe...
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Sep 22, 2017
09/17
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CSPAN2
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>> so the income-tax and consumption tax. with income-tax you should deduct interest and depreciation should fall that the of assets over time but with consumption you should expense everything we believe with no right off for interest deductibility. we have a system bin between with accelerated depreciation but we allow interest and the challenge is you can overcome encourage investment create negative tax rates with the of problems that happened in the '80s if you go too far. and with that investment so i am very open to reducing the fittest pared to make depreciation and more favorable. >> i would echo. so if you'll eliminate interest deductibility it sets up a less harmful way. to get that maximum amount of benefits. and also to interest deductibility to reducing for the of multinationals and then stripped didn't come out of the u.s. tax base so talk about over leverage each there are bridges that we do with their stand that some of the industry's are over reliant and it could be disruptive but it is a trade-off in order
>> so the income-tax and consumption tax. with income-tax you should deduct interest and depreciation should fall that the of assets over time but with consumption you should expense everything we believe with no right off for interest deductibility. we have a system bin between with accelerated depreciation but we allow interest and the challenge is you can overcome encourage investment create negative tax rates with the of problems that happened in the '80s if you go too far. and with...
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term but you can you can tax financial transactions or you can tax a bank so you can tax profits on. people who work at banks or a lot of fun ways to do it some are better than others or some are less worse than others depending on how you look at all right gentlemen i'm going to have to jump in here we're running out of time here i guess one thing is for sure that we will all be paying a lot more taxes in the future i think many thanks to our guests today curtis debate in benjamin harrison and thanks to our viewers for watching is here to see you next time and remember cross talk rules. the. motions of death remains in solitary can.
term but you can you can tax financial transactions or you can tax a bank so you can tax profits on. people who work at banks or a lot of fun ways to do it some are better than others or some are less worse than others depending on how you look at all right gentlemen i'm going to have to jump in here we're running out of time here i guess one thing is for sure that we will all be paying a lot more taxes in the future i think many thanks to our guests today curtis debate in benjamin harrison and...
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Jul 21, 2015
07/15
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CSPAN2
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eye 15
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high tax rates discourage what is tax. my frustration is many of the same politicians forget the lesson when it comes to taxes on work saving investment, rick taking the things that help our economy grow and create jobs make us competitive. but as for tax reform in my mind i try to make it as simple as possible. but a lot growth and prosperity. you heard out in just saying over and over again, consumption-based tax. my job is to try to exploit why that is important. it is important because our current tax system treats income you save and invest much worse than the income you consume. think about the simple fashion. you make the money, pay tax on the money. what is left? disposable income. you have two choices of what to do. consumer right away or in the future. saving and investing. let's think about how the federal tax system treats the two choices. if you consume after-tax income right away, the federal government i enlarged the super loud. we have federal excise tax on gasoline and bows and arrows but other than a few
high tax rates discourage what is tax. my frustration is many of the same politicians forget the lesson when it comes to taxes on work saving investment, rick taking the things that help our economy grow and create jobs make us competitive. but as for tax reform in my mind i try to make it as simple as possible. but a lot growth and prosperity. you heard out in just saying over and over again, consumption-based tax. my job is to try to exploit why that is important. it is important because our...
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Nov 3, 2017
11/17
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pay property taxes. so everyone throughout the united states of america, tens of millions of people are going to be hurt by this republican tax plan. because the limitations on deductibility related to state and local taxes, because of the draconian limitations on deducting property taxes. because of the limitations placed on middle class homeowners as it relates to the mortgage interest deduction. you can't make this stuff up. the republican tax plan is nothing more than a ponzi scheme. to provide a dwinsd fall to millionaires aened billionaires. the wealthy and to the well off. to special interest corporations. and to hide it in the notion that it's a middle class tax cut. the republican tax plan won't help the middle class. it will hurt the middle class. it's a ponzi scheme. it will undermine medicare and medicaid. t will impose billions and billions of dollars in additional deficit. it will force your children and grandchildren to shoulder in ximately $1.5 trillion additional debt. in this is all bei
pay property taxes. so everyone throughout the united states of america, tens of millions of people are going to be hurt by this republican tax plan. because the limitations on deductibility related to state and local taxes, because of the draconian limitations on deducting property taxes. because of the limitations placed on middle class homeowners as it relates to the mortgage interest deduction. you can't make this stuff up. the republican tax plan is nothing more than a ponzi scheme. to...
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Feb 10, 2012
02/12
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tax rate. we are pleased that there's growing consensus for reform that significantly reduces the corporate tax rate. we want to commend chairman camp and this committee for its leadership in this regard. we would welcome the opportunity to work with the committee and its members and staff in dealing with these issues as tax reform progresses. once again, i want to thank chairman camp, ranking member levin and the members of this committee for inviting me today. i very much appreciate this opportunity to testify and would be happy to answer any questions you might have. thank you. >> thank you, mr. schichtel. ms. hanlon, you're recognized for five minutes. >> thank you. chairman camp, ranking member levin and distinguished members of this committee, thank you for the opportunity to testify before you today. the main point of my testimony is that the responsiveness to tax policies can be affected by the financial implications of those policies. i would like to first offer some general examples o
tax rate. we are pleased that there's growing consensus for reform that significantly reduces the corporate tax rate. we want to commend chairman camp and this committee for its leadership in this regard. we would welcome the opportunity to work with the committee and its members and staff in dealing with these issues as tax reform progresses. once again, i want to thank chairman camp, ranking member levin and the members of this committee for inviting me today. i very much appreciate this...
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Nov 13, 2017
11/17
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CSPAN3
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eye 30
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the joint tax committee's distributional reports show that taxes will go down, the amount of taxes in dollars will go down for every single income category in america. you'll see the largest percentages of reduction are in the lower and middle class income categories. the same charts also show that the average tax rate will go down for every single income category in america. once again, a greater percentage of reduction for those in the lower to middle income categories. yet we will continue to face the attacks that what we are doing is trying to raise taxes for those in the middle and lower income categories so we can fejfej feather the nest of the wealthy. the opposite is the case, if it can save lower and middle mcfamilies to save receipts, don't tell them that's not a meaningful benefit and sim application of our tax code can further save those lower and middle income families from the need to pay hundreds a year for someone else to prepare their tax returns because the code is so complex, don't tell them that's not a benefit. if every single member of the -- every single bracket
the joint tax committee's distributional reports show that taxes will go down, the amount of taxes in dollars will go down for every single income category in america. you'll see the largest percentages of reduction are in the lower and middle class income categories. the same charts also show that the average tax rate will go down for every single income category in america. once again, a greater percentage of reduction for those in the lower to middle income categories. yet we will continue...
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Apr 15, 2013
04/13
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FOXNEWSW
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tax. people don't mind if you would see they don't have all the deductions and wiggle room and would be in the same position as everyone else. john: when you talk about the flat tax you talk about getting rid of deductions and just keep charity and mortgage interest deduction. >> everything else is gone. if you would design a system that would allow maximum corruption, maximum lobbying efforts and fund-raising in washington you created a system just like we have for it is so complex, we have got to fix it. it cannot keep going like this. >> that the complication is with the stupid deductions and exceptions of graduated progressive tax rate is not that complicated. >> the way the wealthy have not been fighting so hard against the progressive right is they have the loopholes and the wealthiest will stop fighting so hard if they have the same level playing field as everyone else and people would except that the leadership has not been willing to push it and i think it is a no-brainer we shoul
tax. people don't mind if you would see they don't have all the deductions and wiggle room and would be in the same position as everyone else. john: when you talk about the flat tax you talk about getting rid of deductions and just keep charity and mortgage interest deduction. >> everything else is gone. if you would design a system that would allow maximum corruption, maximum lobbying efforts and fund-raising in washington you created a system just like we have for it is so complex, we...
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if you if you have these tax cuts these bush tax cut tax cuts it doesn't necessarily mean they're going rich people are going to grow the economy doesn't necessarily mean they're going to invest in the economy it doesn't necessarily mean they're going to create jobs do you agree or disagree with that. as generally as i can i would agree with. the bush tax cuts of. income filers of all income brackets and so you know you may see more investment being spurred by cuts to the rich as a result for two earlier by some trickle down effect but the low income earners are also benefiting from from these tax cuts which are set to expire and twenty thirteen in addition to that low income earners are also benefiting right now from a two percent reduction absolute two percent reduction from six point five to four point five percent on the payroll tax tax which directly goes towards social security and medicaid benefits and this tax does by a greater proportion a fact the wealth and income of low income earners. but at a time when we when we have a serious fiscal. crisis in the united states a debt an
if you if you have these tax cuts these bush tax cut tax cuts it doesn't necessarily mean they're going rich people are going to grow the economy doesn't necessarily mean they're going to invest in the economy it doesn't necessarily mean they're going to create jobs do you agree or disagree with that. as generally as i can i would agree with. the bush tax cuts of. income filers of all income brackets and so you know you may see more investment being spurred by cuts to the rich as a result for...
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Jul 23, 2014
07/14
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CSPAN2
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eye 46
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tax system. and should not enhance the bias to foreign acquisitions. most importantly it should not impede our overall progress towards comprehensive tax reform. toward that end, it should not be inconsistent with our house colleagues' approach. i think there's a growing concern among some of our friends on the other side of the aisle to use corporate inversions as a political wedge issue in this election year. in fact, i was recently the recipient of a very politically toned letter from treasury secretary lu on this issue. we're going to have to work together. as you can see, mr. chairman. we have a lot to discuss today. i want to thank you for holding this important hearing and i'll look forward to hearing from this very distinguished panel. >> thank you very much senator hatch. and let me just reiterate i'm very much interested in working with you and our colleagues on both sides of the aisle to address both of these issues. the immediate challenge we're facing with this growing inversion viru
tax system. and should not enhance the bias to foreign acquisitions. most importantly it should not impede our overall progress towards comprehensive tax reform. toward that end, it should not be inconsistent with our house colleagues' approach. i think there's a growing concern among some of our friends on the other side of the aisle to use corporate inversions as a political wedge issue in this election year. in fact, i was recently the recipient of a very politically toned letter from...
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Nov 16, 2017
11/17
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this is not a tax plan. it is a tax scam. this president won't disclose how he is going to benefit from this tax scam. he has disrespected us all. this tax scam will eliminate the student loan interest deduction. it will eliminate state and local tax deductions on income. it will restrict the mortgage interest deduction. 47 million taxpayers face a tax hike, almost half of any tax cuts will go to the richest 1%. residents of my state, california, will taste the largest net tax increase totalling $12.1 billion in 2027 alone. mr. speaker, and members, i call on the president of the united states of america to show his tax income, to show his tax plan. he needs to let us know what he's all about and what his taxes are. from the very beginning he said he couldn't show them at the time that he was asked when he was first inaugurated into this presidency. it's time for the president to show us his tax returns rather than coming up with a tax scam asking everybody else to pay up, to pay more and saying this is a middle-class tax cut
this is not a tax plan. it is a tax scam. this president won't disclose how he is going to benefit from this tax scam. he has disrespected us all. this tax scam will eliminate the student loan interest deduction. it will eliminate state and local tax deductions on income. it will restrict the mortgage interest deduction. 47 million taxpayers face a tax hike, almost half of any tax cuts will go to the richest 1%. residents of my state, california, will taste the largest net tax increase...
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Aug 3, 2017
08/17
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we have the earned income tax credit where people pay negative taxes. it is because we do not provide people with basic -- guest: social security trust funds will begin operating on deficits. it will have deficits over and above the interest over donald trump's presidency. we have to address it. want a right, if you national health care system, it means higher taxes, even on the middle class. charge peoplee to less taxes because they were not be as for. -- as poor. if you want to fix social security, it is very easy. age.ake off and raise the guest: no. guest: yes. host: we want to get to as many calls as we can. trent in indiana, the line for republicans, go ahead. caller: if it is possible to go from an income-based taxes some to a consumption-based taxes system --consumption-based tax system? guest: it is possible. congressmanans, a plans to do away with a taxes some with a corporate vat. it tends to be less economically impactful and destructive than taxing incomes. i do not know if we will get to a system like that in this congress. that is the pro
we have the earned income tax credit where people pay negative taxes. it is because we do not provide people with basic -- guest: social security trust funds will begin operating on deficits. it will have deficits over and above the interest over donald trump's presidency. we have to address it. want a right, if you national health care system, it means higher taxes, even on the middle class. charge peoplee to less taxes because they were not be as for. -- as poor. if you want to fix social...
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137
Aug 2, 2017
08/17
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CSPAN3
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you've been in the tax business for many years from tax policy to tax consulting and compliance. you've worked with congress in administrations, tax practitioners, academics and other taxpayers. what is it that you would like to achieve as head of the tax policy that the treasury department and how have your years of experience and interaction with all facets of the tax committee prepared you to do so? >> mr. chairman, one of the things i've learned over the years is that taxes do impact decision making, both by businesses and individuals. and i think having an internal revenue code that is fair and simple should be a high priority and having a globally competitive tax system is critically important for american businesses. so if confirmed, i'd focus on increasing economic growth through the tax code, creating good paying jobs, a middle income tax cut and simplicity. >> i just have to say that, what are some of the important things congress can do to help americans save their hard earned time and of course their hard-earned money as well complying with this overly complex tax cod
you've been in the tax business for many years from tax policy to tax consulting and compliance. you've worked with congress in administrations, tax practitioners, academics and other taxpayers. what is it that you would like to achieve as head of the tax policy that the treasury department and how have your years of experience and interaction with all facets of the tax committee prepared you to do so? >> mr. chairman, one of the things i've learned over the years is that taxes do impact...
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45
May 5, 2014
05/14
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CSPAN2
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eye 45
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tax. having said that, there is an ability to move money through this technique on a high tax -- from a high tax foreign jurisdiction to a low tax foreign jurisdiction. let's say the company that has money is in a low tax jurisdiction. the company that needs cash is in a higher tax company. by borrowing the higher tax company, foreign subsidiary, gets a deduction at the 30% rate in the country where it is resident. and the lending subsidiary will only have to pick up the income and say a 12% rate. it is possible to have rate arbitrage by moving money around. in theory, when that money is paid back to the u.s. parent, it is subject to tax. the look through is really deferral as opposed to illumination. host: comments on twitter. "american corporations have never been stronger." one other comments from twitter. let's go to aneddy in north carolina on our line for republicans. caller: my question or comment, you hear a lot of people on the left talking about subsidies to oil corporations. the
tax. having said that, there is an ability to move money through this technique on a high tax -- from a high tax foreign jurisdiction to a low tax foreign jurisdiction. let's say the company that has money is in a low tax jurisdiction. the company that needs cash is in a higher tax company. by borrowing the higher tax company, foreign subsidiary, gets a deduction at the 30% rate in the country where it is resident. and the lending subsidiary will only have to pick up the income and say a 12%...
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6.0
Oct 29, 2021
10/21
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CSPAN
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eye 6
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they call it tax reform, but there would be higher taxes. many politicians felt tax reform would give you tax increases. we wanted to make sure that did not happen. we have shared with people who run for the house, the senate, the presidency, and governors and legislators the simple plans they take and put in writing to their voters, not to me, but to the voters of their state that they will oppose and vote against any tax increase. the vast majority of republicans in the house and senate, 16 governors and 1000 state legislators have made that commitment to their voters. if you ever talk to a legislator, just ask them, have you made that public commitment to the people of your state that you will reform government to cost less. not raise taxes to continue doing all of the failed things and refused to reform anything. it is a very interesting divide. i also run the wednesday meeting in d.c. where we bring 100 center-right activists and people who work for the hill to talk about what all of the modern free-market liberty movement are doing. pe
they call it tax reform, but there would be higher taxes. many politicians felt tax reform would give you tax increases. we wanted to make sure that did not happen. we have shared with people who run for the house, the senate, the presidency, and governors and legislators the simple plans they take and put in writing to their voters, not to me, but to the voters of their state that they will oppose and vote against any tax increase. the vast majority of republicans in the house and senate, 16...
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154
Sep 23, 2011
09/11
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CSPAN2
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income tax and the corporate income tax. but i think it's important for us to recognize that many business enterprises in the united states are not c. corporations. so that means they are not subject to the corporate income tax and in fact a significant amount of business income is taxed directly to the individual return. and so, what figure six shows he is just the number of business entity types and how it's changed over the past 40 years or so, with figure seven providing particular detail on the growth of s. corporations and partnerships in comparison to c. corporations over the past 37 years. as you can see in figure seven, it is passed or entities, these alternative business forms, this includes state-chartered llc is, with which i know many of you are aware from your constituents have become in an recently important in terms of the number of business entities. it is not just members of entities of course have a look at the tax system. it is the amount of revenue. figure eight gives you a very quick look at the growth
income tax and the corporate income tax. but i think it's important for us to recognize that many business enterprises in the united states are not c. corporations. so that means they are not subject to the corporate income tax and in fact a significant amount of business income is taxed directly to the individual return. and so, what figure six shows he is just the number of business entity types and how it's changed over the past 40 years or so, with figure seven providing particular detail...
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Aug 27, 2019
08/19
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so the tax law gave them some of the tax cut. depends on what tax rate you are paying is a small business owner. so that could be as high as 37% or as low as 10%. as percent deduction. this proved for congress to be the hardest thing for them to accomplish because it was difficult. people owning truly small businesses and summer hedge fund equity private equity managers making millions of dollars a year, so how do you make those groups. host: she is a tax reporter. let's go to mike in dallas, north carolina. caller: i've got two comments. my first one is on social security. social security would have been great if the government would cap their hands out of it. my second thing is is there anything stopping warren buffett and all these millionaires are saying we need to get the tax rate, is there anything stopping them from voluntarily paying off taxes towards paying say the federal debt? guest: so no there is not and that goes for anyone. if you feel so inclined you can send the treasury a check and they will accept it. where the
so the tax law gave them some of the tax cut. depends on what tax rate you are paying is a small business owner. so that could be as high as 37% or as low as 10%. as percent deduction. this proved for congress to be the hardest thing for them to accomplish because it was difficult. people owning truly small businesses and summer hedge fund equity private equity managers making millions of dollars a year, so how do you make those groups. host: she is a tax reporter. let's go to mike in dallas,...
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0.0
Feb 26, 2023
02/23
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CSPAN2
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it was taxes. certainly when we think of the conditions in the united states, politically, economically, 1929, 1930, the very dawn of the great depression, we should recognize that only for 13 years of american history, for 17 years i'm sorry, in american history, at that point had the nation had tax, never had an income tax for any duration at all prior to 1913. so as new income tax in the united had always relied on the tariff to carry its revenue load, along with excise taxes like on alcohol. but then when they passed the biggest tariff in american history in 1930, the smoot-hawley, you had both the biggest tariff in american history, plus an income tax that at the top was taking 25% of income. this was a completely unprecedented governmental fiscal imprint, tax imprint on the american. so just naturally should expect that a great depression would have occurred then if you're a visitor from mars. just looking at, you know, what changed in terms of american taxation from 1789 to 1930, you identif
it was taxes. certainly when we think of the conditions in the united states, politically, economically, 1929, 1930, the very dawn of the great depression, we should recognize that only for 13 years of american history, for 17 years i'm sorry, in american history, at that point had the nation had tax, never had an income tax for any duration at all prior to 1913. so as new income tax in the united had always relied on the tariff to carry its revenue load, along with excise taxes like on...
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Jun 25, 2019
06/19
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CSPAN2
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eye 72
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in state taxes and local income and earning taxes. this changes significance for average families in my district and in districts across the state of ohio. if you visited my community you would find beautiful tree lined streets filled with families who care deeply about one another and invest heavily in public education. if you have heard of upper arlington you may know we are considered an affluent community. that is correct. when i shared my median home value you may think someone who owns a 357,000-dollar home can afford a tax increase. but again, this is not correct. our community is not one dimensional and we have more families making financial sacrifices to move to our city to place their students in our schools. these are families living paycheck to paycheck with less flexibility in their household budget to absorb tax increases. this change in tax law has made an increase in federal taxes when they do not have the margin to pay for such an increase. i'm concerned these families will not be able to afford future school tax levi
in state taxes and local income and earning taxes. this changes significance for average families in my district and in districts across the state of ohio. if you visited my community you would find beautiful tree lined streets filled with families who care deeply about one another and invest heavily in public education. if you have heard of upper arlington you may know we are considered an affluent community. that is correct. when i shared my median home value you may think someone who owns a...
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Sep 28, 2017
09/17
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the most important part is the tax cut. who wins in a tax cut? the guy who spent eight years without a job. we know when you reduce the tax burden you get more job creation. we live through that in the past. when obama raised taxes we have the weakest recovery in modern history. if you want to bring down the deficit, get economic growth going. host: if you want to talk to grover norquist, colin now. here this morning -- call in now . revealed thatans line we will start with independents first. caller: my husband and i are not in the high tax bracket. i've got to say that i'm not impressed with the doubling of the standard deduction. thegame is offset by personal exemptions. "come to $2250. eliminatedbracket is my that 225 tax save reduces to $113. lowerso curious, bidding income, what they are going to do on capital gains. there currently is 0% for those of us who take a risk on our investments to get some dividends. i am afraid that might be lost. i am unsure where that stands or that will put us at 15%. ,gain, big risk on investments don't know
the most important part is the tax cut. who wins in a tax cut? the guy who spent eight years without a job. we know when you reduce the tax burden you get more job creation. we live through that in the past. when obama raised taxes we have the weakest recovery in modern history. if you want to bring down the deficit, get economic growth going. host: if you want to talk to grover norquist, colin now. here this morning -- call in now . revealed thatans line we will start with independents first....
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Aug 24, 2014
08/14
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WHYY
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taxes. here's what president obama said recently about that practice, known as inversion. >> now, here's the problem is this loophole they're using in our tax laws is actually legal. it's so simple and so lucrative, one corporate attorney said it's almost like the holy grail of tax avoidance schemes. my attitude is i don't care if it's legal, it's wrong. >> now look at this recent headline in "the new york times." reluctantly, patriot flees homeland for greener tax pastures. it's about a u.s. generic drug company incorporating in the netherlands. reluctantly, my eye. skipping out on america means more profits for the company and bigger bonuses for the ceo. tax-dodging is big business, which has one of our world's most noted economists plenty angry -- nobel laureate joseph stiglitz. he's president of the international economic association and served as chairman of the white house council of economic advisers back in the '90s. his best-selling books have shaped worldwide debate. and now he's w
taxes. here's what president obama said recently about that practice, known as inversion. >> now, here's the problem is this loophole they're using in our tax laws is actually legal. it's so simple and so lucrative, one corporate attorney said it's almost like the holy grail of tax avoidance schemes. my attitude is i don't care if it's legal, it's wrong. >> now look at this recent headline in "the new york times." reluctantly, patriot flees homeland for greener tax...
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Dec 18, 2017
12/17
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sheena came out in favor of a soda pop tax. tax on the people. and a wage tax. and she said she would sign the. so she was willing to raise taxes on poor people and middle income people. everybody. and $1 trillion that she admitted to with tax increases that she didn't spell out how much they were. green.ndy guest: the affordable care act help 20 million people get insurance. the american medical association has a post and all associations have vigorously opposed every effort coming out of washington in the past 12 months to try to repeal it. clinton's taxk at plan, you will find that they were exclusively about raising taxes on the very wealthiest. taxes and the social security thing, that is closing the loophole that allows the wealthiest folks to not pay payroll taxes that everybody else pays. so i think this is really a question about, what is your vision for the role of government in society. beit a government that will invested in you? a government that will be there to make sure you have education for your kids and access to college and the ability to hav
sheena came out in favor of a soda pop tax. tax on the people. and a wage tax. and she said she would sign the. so she was willing to raise taxes on poor people and middle income people. everybody. and $1 trillion that she admitted to with tax increases that she didn't spell out how much they were. green.ndy guest: the affordable care act help 20 million people get insurance. the american medical association has a post and all associations have vigorously opposed every effort coming out of...
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Sep 6, 2023
09/23
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RUSSIA24
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taxes are discussing changes in tax legislation and tax practice. see you later. have you already guessed? we have to talk about some kind of unseen power industry through the far east. this is not an optical illusion of pontoons, it is not an asymmetric response to claims from abroad, which has nothing to cover with a solar battery. as far as i understand, we are the first journalist to film here, yes. russia has always had the potential in central siberia, the far east, the task of ensuring only the number of kilowatt hours, but also instantly every second, so that there is as much as needed. if you have a hammer the solution is in the hammer. that's right, here i am now flying over an abyss. we can guess here what else is going on. there is no surface, they found it. and this is the one who likes to clean up the economic forum, which is taking place, of course, in a completely different political environment, new considerations have arisen about these very carbon units, how will it work? all around is the thicker, black, salty pacific ocean, the
taxes are discussing changes in tax legislation and tax practice. see you later. have you already guessed? we have to talk about some kind of unseen power industry through the far east. this is not an optical illusion of pontoons, it is not an asymmetric response to claims from abroad, which has nothing to cover with a solar battery. as far as i understand, we are the first journalist to film here, yes. russia has always had the potential in central siberia, the far east, the task of ensuring...
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Nov 29, 2017
11/17
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CSPAN2
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his income tax rates are 100%, income tax revenue will be zero. with 100% tax rate nobody will bother to work. and companies will not produce either. corporate taxes were seen hypocrisy from our friends across the who previously had championed some of the provisions in the legislation. the ranking member of the senate finance committee, our friend for market two peter 24 person corporate rate because of 35% rate chased businesses and jobs overseas. he now calls our reduction in corporate taxes a giveaway to corporations. you could consider statements made by barack obama in 2011. he said to a joint session of congress, one thing republicans democrats need to do together his work on lowering the corporate tax rate. he recognized this was self-destructive. chasing jobs overseas and prevented the u.s. treasury from collecting the taxes. frankly, it was hurting bottom-line for american families economists have said lowering the tax rate will bring more investment jobs back home. if it were lowered expanded production would increase to mystically even
his income tax rates are 100%, income tax revenue will be zero. with 100% tax rate nobody will bother to work. and companies will not produce either. corporate taxes were seen hypocrisy from our friends across the who previously had championed some of the provisions in the legislation. the ranking member of the senate finance committee, our friend for market two peter 24 person corporate rate because of 35% rate chased businesses and jobs overseas. he now calls our reduction in corporate taxes...
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Sep 13, 2018
09/18
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CSPAN3
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taxes than under the old tax code. a greater proportion. so i understand that any time we pass broad comprehensive policy there will be some people that will be unhappy, but i think we did the best we could and i think we're seeing the results in the economy, more and more americans are cha americans are sharing in the recovery finally and that is something i think everyone on the committee should celebrate. and of course we have to work together to face some of the other challenges that pose a threat specifically and most acutely to my generation and people younger than me. we cannot hand over this kind of debt and that is something that i'm committed to working on with every member of this committee on the republican side, on the democratic side. so thank you, mr. chairman for this opportunity and i look forward to supporting our legislation today. >> thank you, mr. curbelo. and mr. crowelly, you are recognized for the last word. >> for the purposes of introducing -- i yield to mr. pascrell. >> thank you. mr. chairma
taxes than under the old tax code. a greater proportion. so i understand that any time we pass broad comprehensive policy there will be some people that will be unhappy, but i think we did the best we could and i think we're seeing the results in the economy, more and more americans are cha americans are sharing in the recovery finally and that is something i think everyone on the committee should celebrate. and of course we have to work together to face some of the other challenges that pose a...
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20
Nov 7, 2017
11/17
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CSPAN3
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the estate tax is not middle class tax relief. in addition to that, i'm saying that your proposal on the alternative minimum tax right now is not middle class tax relief and you shouldn't characterize those as being middle class tax relief measures because they're not. there is nothing i offered in terms of facts of where we were with budget surplus and deficits you would find inaccurate. >> mr. nunez, i would just say that as it relates to the amt, it's a terrible tax. i'm glad that we got rid of it for 26 million americans. but we need to get rid of it for all americans. it reduces the ability for businesses to create jobs. that's mainly where the amt hits is on small business people in this country. i'll yield to remaining time. >> thank you. just one point. and that is, it was brought to my attention the notion of the mistakes of the past of repatriation for example. repatriation policy in the past was episodic, no level of predictability. companies did not know the ground rules. it was a holiday and it was highly limited. and
the estate tax is not middle class tax relief. in addition to that, i'm saying that your proposal on the alternative minimum tax right now is not middle class tax relief and you shouldn't characterize those as being middle class tax relief measures because they're not. there is nothing i offered in terms of facts of where we were with budget surplus and deficits you would find inaccurate. >> mr. nunez, i would just say that as it relates to the amt, it's a terrible tax. i'm glad that we...
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Sep 24, 2014
09/14
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CSPAN2
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everybody hates taxes. why not a net worth tax? you could set the limit, $50 million. >> i'm going to have to cut you off. any quick response? >> what taxes are an popular property taxes are probably the most unpopular so i'm not sure that is a route to getting tax reform but i do understand your point but i do want to say one word about the durability of reform is very important. one of the sad things about the 86 reform as it unwound relatively quickly. there were many diagnoses of that the key part of that is you can't be independent of what jarrett is talking about unless you fixed the spending side to match the revenue side. you're inevitably going to have pressure for revenue which leads you to open up the tax code in the minute you open it up the integrity of the reform starts to be unwound. the key is the willingness to get the tax as well. >> i think you make a good point and i like your idea about a net worth or a wealth tax. i will note that the way you queued up is exactly right. on its face consumption tax of course is
everybody hates taxes. why not a net worth tax? you could set the limit, $50 million. >> i'm going to have to cut you off. any quick response? >> what taxes are an popular property taxes are probably the most unpopular so i'm not sure that is a route to getting tax reform but i do understand your point but i do want to say one word about the durability of reform is very important. one of the sad things about the 86 reform as it unwound relatively quickly. there were many diagnoses...
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Dec 20, 2017
12/17
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tax we're not going to impose a federal tax on your tax payment. no tax on a tax. they didn't buy it. they changed it. they put limits on the amount of deduction that you can make for this. what does it mean? ask the realtors in my state, the home builders, and they'll tell you that this is going to be a damper on economic growth in the state of illinois, a growth that we desperately need in my state to create jobs and opportunities. this final deduction is taken by nearly one-third of all taxpayers and taxpayers in my home state benefit from it among the most in the nation. the principle is simple. illinoisans under the new republican plan will start paying federal taxes on the local, state property taxes that they pay, and they don't receive the deduction that historically has been there. republicans apparently feel differently because in the face of weeks of warnings from realtors, home builders, local school districts, state and local officials and first responders about the increased difficulty which the elimination of this deduction will crea
tax we're not going to impose a federal tax on your tax payment. no tax on a tax. they didn't buy it. they changed it. they put limits on the amount of deduction that you can make for this. what does it mean? ask the realtors in my state, the home builders, and they'll tell you that this is going to be a damper on economic growth in the state of illinois, a growth that we desperately need in my state to create jobs and opportunities. this final deduction is taken by nearly one-third of all...
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Dec 20, 2017
12/17
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your taxes. we have seen floor speech after floor speech where democrats claimed that this tax cut is going to raise your taxes. they are used to be a standard for voracity in this body, but the beautiful thing is that when one political party makes representations to the american people that are outright falsehoods, that tends to become public. the beautiful thing is in january the american people are going to see. so i encourage the american people -- in january take a look at your pay stubs. the democrats are claiming wildly falsely that somehow your taxes are going to go up. let me tell you for virtually every american taxpayer, your taxes will go down. when someone in the old testament would claim he was a prophet, if you claimed you were a prophet, people would say make ha short-term prediction and see if it comes true. the democrats have made a short-term prediction, they said your taxes will go up. take a look in january. i guarantee for the single mom when you look at the child tax credi
your taxes. we have seen floor speech after floor speech where democrats claimed that this tax cut is going to raise your taxes. they are used to be a standard for voracity in this body, but the beautiful thing is that when one political party makes representations to the american people that are outright falsehoods, that tends to become public. the beautiful thing is in january the american people are going to see. so i encourage the american people -- in january take a look at your pay stubs....
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Jun 20, 2015
06/15
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of tax reform. kimberly: what are the biggest threats to u.s. businesses from this project? where they are headed on these rules? rep. ryan: that you will have a system where there is no haven for lower tax rates and we have other countries trying to assert their jurisdiction into our domestic firms to tax them. where we break down these traditionally observed international legal barriers between firms and countries. kimberly: there seems to be other things like disclosure requirements. you mentioned them in the letter. rep. ryan: that is something we are very concerned about. we're concerned about ip protection, data protection, and the privacy of firms. i think we will probably get into this conversation on tax reform we want to acknowledge the fact that it is probably in our interest to see if we can move quickly to do international reforms that address this issue so as to cauterize it, in a way, to prevent the corporate tax base being eroded so we have a tax base to work with. kimberly: so this
of tax reform. kimberly: what are the biggest threats to u.s. businesses from this project? where they are headed on these rules? rep. ryan: that you will have a system where there is no haven for lower tax rates and we have other countries trying to assert their jurisdiction into our domestic firms to tax them. where we break down these traditionally observed international legal barriers between firms and countries. kimberly: there seems to be other things like disclosure requirements. you...
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20
Apr 15, 2014
04/14
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eye 20
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a flat tax or a sales tax. host: if you put a flat tax at the federal level on top of the sales and use taxes we already have at the state it would be very, very regressive. idea of fairness in "the washington post" talks about the marriage penalty. i married people treated differently tax wise than single and is it fair? guest: another feature of the income tax system. we have four if it filing options depending on your marital status. -- four different filing options. that is three too many. should be one. we have all sorts of special provisions depending on how many children you have an depending on your marital status. it is very complex and unnecessary. guest: there is a marriage penalty if both spouses work that if only one spouse works there is a bonus because you basically get to use your spouse's tax bracket. does trade working couples definitely than it treats people that have one spouse staying at home. host: washington, d.c. go ahead. democrats line. myler: thank you for taking call. i had a comment
a flat tax or a sales tax. host: if you put a flat tax at the federal level on top of the sales and use taxes we already have at the state it would be very, very regressive. idea of fairness in "the washington post" talks about the marriage penalty. i married people treated differently tax wise than single and is it fair? guest: another feature of the income tax system. we have four if it filing options depending on your marital status. -- four different filing options. that is three...
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143
Oct 8, 2012
10/12
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a tax cut for millionaires. a tax cut for millionaires. next april, david cameron will be writing a check for £40,000 to each and every millionaire in britain. not just for one year. but each and every year. that is more than the average person earns in a whole year. at the same time as they're imposing a tax on pensioners next april. friends, we, the labour party, the country knows it is wrong. it is wrong what they're doing. it shows their priorities. and here's the worse part. david cameron isn't just writing the checks. he is receiving one. he's going to be getting the millionaire's tax cut. [applause] so next week maybe mr. cameron can tell us how much is he awarding himself in a tax cut? how much is that tax cut he is awarding himself? for a job, i guess he thinks is a job well done. how many of his other cabinet colleagues have checks in the post from the millionaire's tax cut? and how can he justify this unfairness in britain 2012. and of course let's not forget this tax cut wouldn't be happening without nick clegg and the liberal
a tax cut for millionaires. a tax cut for millionaires. next april, david cameron will be writing a check for £40,000 to each and every millionaire in britain. not just for one year. but each and every year. that is more than the average person earns in a whole year. at the same time as they're imposing a tax on pensioners next april. friends, we, the labour party, the country knows it is wrong. it is wrong what they're doing. it shows their priorities. and here's the worse part. david cameron...
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39
May 25, 2017
05/17
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CSPAN
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eye 39
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tax code. he answered questions before the senate finance committee this morning. >> i want to briefly comment on the horrific terrorist attack in manchester. americans are bound to our british friends by a common language, culture and many other things such as the common law. as a boy i remember the strength it brought to us americans to witness the courage of the british people as they stood strong in the battle of britain. we know the resolve of the british people will once again vanquish a common foe. today i think we can speak for all members of the committee when i say, god save the queen. and god save great britain. we care a great deal for our friends overseas. mr. hatch: and we wish them est. today's hearing has a dual focus. we will be -- we will discuss the president's budget for fiscal year 2018, as well as ongoing efforts to reform our nation's tax code. we are pleased to be joined here today by treasury secretary steven mnuchin, who will provide the administration's perspective on
tax code. he answered questions before the senate finance committee this morning. >> i want to briefly comment on the horrific terrorist attack in manchester. americans are bound to our british friends by a common language, culture and many other things such as the common law. as a boy i remember the strength it brought to us americans to witness the courage of the british people as they stood strong in the battle of britain. we know the resolve of the british people will once again...
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1.6K
Sep 28, 2017
09/17
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tax. [cheers and applause] that means, especially for all of you with small businesses that are really tremendous businesses, you will be able to leave them to your family and they will not have to run out and do a fire sale to try and get the money to pay the tax, lose the business. all of those jobs are lost. the farmers in particular are affected. they have wonderful farms but cannot pay the tax, so they have to sell the farm. the people who buy it do not run it with love. they cannot run it the same way, and it goes out. the death tax is a disaster for this country and a disaster for so many small businesses and farmers, and we are getting rid of it. [cheers and applause] pres. trump: now, if you do not like your family, it will not matter. [laughter] pres. trump: but for those who love your family, it matters a lot. with us today is a family farmer from leesburg. hi, kip! [applause] pres. trump: who fears that his family's farming heritage -- been a long time. 187 years. peanuts, kid.
tax. [cheers and applause] that means, especially for all of you with small businesses that are really tremendous businesses, you will be able to leave them to your family and they will not have to run out and do a fire sale to try and get the money to pay the tax, lose the business. all of those jobs are lost. the farmers in particular are affected. they have wonderful farms but cannot pay the tax, so they have to sell the farm. the people who buy it do not run it with love. they cannot run it...
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66
Sep 13, 2011
09/11
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impact of the income tax, the payroll tax, and state taxes. these high marginal tax rates reduce the incentive to work, require more skills to start or expand a small business, to save, and to invest. they induce individuals to seek their compensation in nontaxable forms and fringe benefits and to spend money in wasteful ways that generate tax reductions. so limiting tax expenditures and using the resulting revenue to lower marginal tax rates would produce a double win. it would reduce wasteful behavior directly and would strengthen incentives for increased economic growth. of course, that can be made a triple win by using some of the resulting revenue to reduce budget deficits. although limiting tax expenditures produces additional revenue, it is as the chairman indicated, really a way of cutting government spending and government entitlements. the effect shows up on the revenue side of the budget but it is really a cut in spending. the accounting rules make it look like a tax increase but the economic effect is the same as any other reductio
impact of the income tax, the payroll tax, and state taxes. these high marginal tax rates reduce the incentive to work, require more skills to start or expand a small business, to save, and to invest. they induce individuals to seek their compensation in nontaxable forms and fringe benefits and to spend money in wasteful ways that generate tax reductions. so limiting tax expenditures and using the resulting revenue to lower marginal tax rates would produce a double win. it would reduce wasteful...
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well, taxes new and inheritance. tax electric says he proposed the 1st income tax bill in 19 i $1.00 and $4.00 very hard for it. leave us with in 1987, he introduced the idea of a progressive scale via and with the 1st world war. in august, 1914 for the income tax was finally introduced because they had to finance the war russia survey through friday, march good, ample show of new breski full financially folder. gail. because of the 1st world war and income tax was established in france in the summer of 1914, it was based on both the british and prussian taxation systems. but it was more symbolic than anything bringing in very little money, especially because declaring income was voluntary and high, earnest weren't taxed at high rates. and as the expensive watch and on government, once again had to fall back on loans. appealing to patriotism, governments convinced the citizens of france, germany, and britain to finance the 1st world war the highest price was paid by indian soldiers with their lives. but on top of that, it was the vos debt, that, of course, the people would have to pa
well, taxes new and inheritance. tax electric says he proposed the 1st income tax bill in 19 i $1.00 and $4.00 very hard for it. leave us with in 1987, he introduced the idea of a progressive scale via and with the 1st world war. in august, 1914 for the income tax was finally introduced because they had to finance the war russia survey through friday, march good, ample show of new breski full financially folder. gail. because of the 1st world war and income tax was established in france in the...
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24
Apr 20, 2017
04/17
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CSPAN2
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eye 24
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tax. >> sure, i would like to say it's not an original thought and it's been said before that there really are no new idea, rebranding of old ideas and we keep -- mark, you mentioned six years, you can go back to 40 years and see over and over again people trying to come up bold tax reform plans and at least with respect to what republicans can do, you come back to two basic models, one is or the sort of a traditional income tax reform. accrued income where you match income, depreciation, capitalization, stuff like that. that's what the '86 act was or you move to something like a destination-based cash flow tax which is what we proposed in 2016 and what we have on the table in 2017. we saw it in 1977 when treasury put out a blueprint for tax reform, it had two plans, an income tax reform and cash flow tax. we saw it in the 90's, we saw it in 2005 with president bush's tax reform panel, they put out two plans, simplified income tax and what they called the gip, the growth and investment tax
tax. >> sure, i would like to say it's not an original thought and it's been said before that there really are no new idea, rebranding of old ideas and we keep -- mark, you mentioned six years, you can go back to 40 years and see over and over again people trying to come up bold tax reform plans and at least with respect to what republicans can do, you come back to two basic models, one is or the sort of a traditional income tax reform. accrued income where you match income, depreciation,...
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0.0
Apr 18, 2024
04/24
by
IRINN
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mostafi, head of the inspection and fight against tax evasion center of the tax affairs organization, is present as an opponent of the tax exemption, mr. ali naghi, a member of the publisher's union tax working group, on the other side. as a supporter of tax exemptions , they are present here. greetings and blessings to both guests of the program , i would like to start with mr. mustafa, and i would like to end the question of the current state of taxes and tax exemptions from the people of culture and art, especially in the field of publishing. may god be merciful and gracious , i offer my greetings, courtesy and respect to your excellency, dear viewers of the program and dear guests of the program. according to the tax declarations that we received from those who work in the field of publishing, based on the activity codes that these loved ones chose in the field of publishing as their field of activity in the year 1401 when we received the tax declarations , there are more than 890 taxpayers. who chose their own field of work in the field of publishing and announced that these love
mostafi, head of the inspection and fight against tax evasion center of the tax affairs organization, is present as an opponent of the tax exemption, mr. ali naghi, a member of the publisher's union tax working group, on the other side. as a supporter of tax exemptions , they are present here. greetings and blessings to both guests of the program , i would like to start with mr. mustafa, and i would like to end the question of the current state of taxes and tax exemptions from the people of...
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tax hike, gas tax he. theyve have a tax on rain watern maryland. gerri: what? what? >> they have a tax on depending how big your roof is on your house the rain running off of it apparently is taxable and ability to flush the toilet and septics tanks. gerri: making my head hurt. >> if you live in the d.c. area, don't move to maryland. district might be better for auguste that is saying something. pete, i want to talk about propertyaxes. >> yes. gerri: we took a look at some numbers. second quarter, u.s. property tax collections were $374 billion. that is one quarter. think about that. that is a lot of money. people are stillacing sky-high property taxes even though pres on their hopes have gone do. whatic can theyes h do? what can they do to the cut the bill? >> pret incredible. between 2010 and 2011 that is 1 ly point which property tax collections fell off by all of 1.3%. why? because mostwi properties are overassessed. experts say somewhere between0 and 60% of the them are overassessed of the. gerri: wow
tax hike, gas tax he. theyve have a tax on rain watern maryland. gerri: what? what? >> they have a tax on depending how big your roof is on your house the rain running off of it apparently is taxable and ability to flush the toilet and septics tanks. gerri: making my head hurt. >> if you live in the d.c. area, don't move to maryland. district might be better for auguste that is saying something. pete, i want to talk about propertyaxes. >> yes. gerri: we took a look at some...